Chasing the Dream Job: Why Students Aim High Despite the Odds

Last year, I spoke with students at an institute where everyone seemed focused on landing a role at a prestigious management consulting firm—one of the top three.

The catch?
👉 This company doesn’t usually visit their campus.
👉 Even if it did, competition would be intense, and most students’ profiles weren’t exactly a fit.

Yet, the students remained hopeful and driven. Why?

This behavior can be explained through several behavioral economics principles and psychological factors that influence decision-making and career choices:

1. Optimism Bias

Students tend to believe they are more likely to succeed than others, even when the odds are low.
“This time, it might work out for me.”

2. Overconfidence Effect

Overconfidence in one’s abilities and prospects leads students to overestimate their chances of landing the dream job—despite not being the top candidate.
“I’ve prepared well, so I’ll definitely make it.”

3. Hope and Aspiration

The idea of securing a dream job is so motivating that it drives continuous effort, even when the odds are stacked against them.
“If I don’t try, I’ll never know.”

4. Social Identity and Peer Influence

The desire to be part of a prestigious community or match the success of peers creates pressure to pursue the dream job.
“Everyone else is doing it—I don’t want to miss out.”

5. Motivational Incentives

High rewards (salary, status, career growth) create a powerful incentive to chase the dream.
“Even if it’s hard, the payoff will be worth it.”

6. Narrative Fallacy

Stories of rare successes (“XYZ got into McKinsey from our batch”) distort statistical reality and create unrealistic expectations.
“If they did it, so can I.”

How Mentors Can Guide Students Effectively

As mentors, it’s essential to strike a balance between:
✅ Encouraging students to aim high and pursue ambitious goals.
✅ Helping them explore alternative career paths that align with their strengths and interests.
✅ Emphasizing that success isn’t defined by one career path—there are multiple routes to professional fulfillment.
✅ Teaching them to differentiate between aspiration and realistic strategy—preparing well but staying adaptable.

Motivation is key—but so is perspective.

Students should feel empowered to dream big but also understand that success comes in many forms, not just through a narrow definition of a “dream job.”